Hi everyone:

Looks like I just sold a condo in the 'yet-to-be-built' Dennistoun Condominiums on Roslyn Rd.

This exciting project, Dennistoun Condos, which is accepting pre-orders for suites at this time, is scheduled to start construction in the spring of 2011. Located on Roslyn Rd, just west of Osborne St, units range in size from 795 sq ft to 1200 sq ft and prices range from around $260,000 to $430,000.

I always advise my clients that there are 4 or 5 'should-have' items in a condominium. These are: Underground Parking, Insuite Laundry, Central Air, Concrete Construction, and Location, Location, Location.

Although this building is months away from construction start, it appears to have all of the above. Underground Parking is included in the larger suites (at no extra cost) and all suites have central air, furnace and insuite laundry. You certainly can't argue the location, in Osborne Village and right behind Safeway.

The condominium will feature 71 suites, and the developer requires that 30 units are reserved before going to the next phase. I'm told that now 23 are already reserved, so if you're thinking of buying a new construction condo, in a fabulous trendy Osborne Village area, don't delay. Call me anytime for more info... Bo 333-2202

Hi Everyone:

I just checked the condo-availability for Winnipeg, and found that there are currently 276 Condos in all price ranges. Lets look at some of the different price ranges:

$140,000 to $200,000:

There are 68 condos available in this price range, which many people would consider an 'entry-level' type of investment. In this price range you can expect to find 1 or 2 BR,s outdoor parking spot, most likely a Window A/C unit (although some of these might have central air), insuite laundry and balconies. There are some very nice condos available in the Swindon-Tuxedo area in this price range.

$200,000 to $300,000:

There are 87 condos available in this price range. Here you could expect to find Central Air, underground heated parking spots, larger suites (1000 sq ft and up) and more.

$300,000 to $500,000

Here you could expect to find a newer building and an upscale neighbourhood, such as Wellington Cr. Amenities should definitely include underground parking, c/air and furnace, and most likely a nice view of the river or the city. There are currently 61 condos available in this price range.

$500,000 and up:

Luxury galore: Expect full-service such as security personnel at the door, large suites and the better locations and views. There are only 13 condos in this price range, including 4 condos over $1 million, all of which are located on Wellington Cr.

If you're thinking of buying, or selling, a condo in Winnipeg, choose your agent wisely: While all REALTORS® are allowed to sell condos, not all of us are equally trained, experienced and qualified to do so. As a current condo owner, and past president of a condo board, I am ready to help you with your condo-decisions. Call me anytime.... 333-2202

Hi everyone:

I just checked (May 21st, 2010) and there are currently 276 condos available for sale in Winnipeg. By comparison there are 935 houses for sale at this same time. What does this mean?

In 2009, condominiums made up approximately 15% of the total sales in Winnipeg. If we take 15% of the houses available, we come up with a number of 140. Which means that, at 276, there are twice as many condos available when compared to houses.

Houses, especially in the 'below $200,000' category, as usually subject to outrageous bidding wars. 10 or more buyers bidding on that first home, thus driving the price up to around the $300 per sq foot mark. As an alternative, you can find a very nice condo in a great part of the city for considerably less than that, and usually the buyer is able to get a financing condition or other type of condition into the offer.

So if you're looking for a 'starter home', or perhaps thinking of down-sizing and selling your house for top dollar, consider a condo right now.

Call me to discuss your options. Bo 333-2202

Here are some of the most common questions Home-Buyers have:

Q: Whats the best way to FIND a house in Winnipeg? Go to Open Houses? Looking thru real estate magazines? Search individual agents websites?

A: Magazines are often published once a month, or perhaps once a week. By the time a listing makes it into print, it's most often already sold or accepting offers. Open Houses can be very hectic, and you end up 'rubbing elbows' with lots of other visitors. The Best Way? Work with one REALTOR® who can show you ALL the listings. Someone like, say, me for example. Watch this video.

Q: Why should I work with a REALTOR®. I can find the houses on my own!

A: FINDING them is just a small part of what real estate agents can do for you. Once you find a nice house, I can help you evaluate it, offer advice on how to structure your offer to make it more acceptable (thereby winning any possible bidding war), and I can even help you get pre-approved by a great lender. Please watch this video.

Q: My checking account is with a bank. Can't I just go there to be pre-approved?

A: In this fast market, every buyer knows that pre-approval is required, so EVERY buyer already does that. It's no longer sufficient just to be pre-approved, its actually more important to be pre-approved by the RIGHT lender. To find out HOW you do that, watch this video.

Hi everyone:

In this crazy time of bidding wars (especially on entry-level houses) a first time buyer might consider purchasing a condominium for their first home. In fact there are many great reasons to buy a condominium, not just for a first time buyer. To see a list of reasons, read 7 Reaons

With 700-sq-ft bungalows selling in the south end of the city for over $200,000, there are a number of condominiums available for prices perfect for the first time buyer. To find out a little more, read Condos between 120K and 180K

As an example, an 800 sq ft apartment style condominium, with upgraded kitchen, bath, flooring, new appliances and much more, sell for approximately $160,000. And 1100 sq-ft townhouse condos, with c/air and insuite laundry can be purchased for approximately $165,000 to $170,000.

As an added bonus, although condominiums sometimes do receive multiple offers, these situations are far more rare, making condominiums an excellent choice for the first time buyer who need to put financing conditions into their offers.

Hi Everyone:

My Client just bought this wonderful "Age-Restricted" Condo in Transcona. 777 sq ft, 2 BR condo with lots of amenities for the mature condo-owner: a library, a common meeting room, an excercise room and more. New construction, concrete building means nice and quiet living. The condo includes fridge, stove, dishwasher, a/c and insuite laundry.

If you're looking for a 50+ or 55+ condo, call me direct. There are a couple of units left in this same building, but they're selling fast. Also there are a few other 'age-specific' condos available in Winnipeg.

Call me direct, or e-mail me at boknowshomes@gmail.com

My website is at WinnipegHomeFinder

Hi Everyone:

Right now, (Sunday, Nov 8th) there are 224 Condos for sale in Winnipeg. This covers all types, styles and price ranges. So, if YOU are in the market for a condo, please give me a call, as I can show you ANY condo on the market.

Email me at boknowshomes@gmail.com

Here is my Website

In part 1 we examined the different types and styles of condos. Now lets look at some of the more common questions buyers have about condos in general:

What do Condo-Fees pay for? Each condominium project (and there are hundreds in Winnipeg) has a different arrangement. With some, your condo fee only pays for the very basics, such as snow-clearing, grass cutting, management fees and common-element insurance'. With other condos, the fees might include water, cable-vision packages, heat and an on-site caretaker.

What is a 'common-element'? Basically it is any area where all residents have access. In an apartment style condo, that would be the entrance and the hallways, as an example. In a townhouse, or bungalow styles, it would be the roadway and the visitor parking lot. The 'common-element insurance' basically protects the owners from any lawsuits by visiting guests, whether invited or uninvited, but that is a subject all to itself.

What is a Reserve Fund? Every month, a small portion of the condo-fee goes into a special savings account, called a "Reserve Fund". Again depending on the type of condo we are looking at, this reserve fund might pay for any building repairs such as a new roof, new windows, painting and re-carpeting of hallways, etc. Basically the maintenance and repairs of areas which are common to all owners, and which effect all owners. So for example, if you own a stand-alone bungalow condo, you might be responsible for your own roof repairs, new windows etc etc.

About Condo By-laws: When a condo-project is first created, the builder usually sets up a set of 'by-laws', which would govern the use and rights of the individual owners. The initial set of by-laws are quite often very simple, such as "No Laundry to be hung from windows" of an apartment style condo. Bungalow condos might have a rule that states "No Outbuildings or Sheds or Fences to be erected".

As owners settle into the condo, they establish a board, and can then write their own by-laws. In order to change a current law, or to create a new one, the owners need to approve such changes by a 75% margin. In short, majority rules.

Taxes: Unfortunately, in our fair city and province, condominiums are taxed at precisely the same rate as regular houses. Considering that many condos, especially high-rises, uses a lot less services (i.e.: street cleaning, garbage pickup which is often paid for by the condo fees, snow clearing, etc etc) this current system is not considered fair by many. Fair or not, condos offer a unique lifestyle, and definite value in a time when it is becoming more and more difficult to find a house in a similar price range.

If you have any questions regarding Condos, please feel free to contact me anytime.

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Hello Everyone:

This is a re-issue of a blog-entry I did back in March 2008. With condos in high demand, I thought it might be a good time to re-issue an old favorite.

Condominiums have been steadily gaining in popularity in the past few years in Winnipeg. At least part of this is due to the fact that while buyers have a tough time finding a nice house under $150,000, condos are still available in this price range.

Whether you are a first-time home buyer, or an 'empty-nester', there is a condo which will fit your needs. Here is an overview of available choices and the differences between them:

Apartment-style: These are usually 3 stories tall or more, and are defined by having one general entrance way leading to a lobby or hallways, from where the individual suites branch off. Taller condos are most often built with concrete floors, which aids in the noise-reduction. Ideally, you would want a balcony so you can sit outside and have some fresh air. Most have window a/c units, but the nicer, more expensive ones have central air. Another thing to keep in mind is that not all of them have in-suite laundry, which is a nice option to have. They usually come with a parking spot, with underground spots commanding a higher price. These types of condos can sometimes still be found around the $100,000 mark for a 1-bedroom, and $125,000 and up for a 2 BR, depending on the options. Luxury condos of 1400 sq ft and more can run significantly more, depending on location.

Townhouse-style: These are usually one and 2 story buildings, with each unit having its own entrance. Most of these are wooden-frame construction, the downside being that you could hear your neighbor's stereo (or amorous escapades). These normally have an outdoor parking stall, window a/c and usually have in-suite laundry. An average 2 BR of about 900 sq feet will run you around $130,000, again depending on location.

Side-by-sides: Most of these are of newer construction, and can range in price and size. Being newer buildings (usually built within the past 10 years), they also come with more options, such as c/air, attached garages, full basements and other amenities. Privacy is increased in that you only share one wall with a neighbor, and most of the newer ones have fairly good sound insulation between the walls. Prices range from around $200,000 and up.

Detached Condos: These are what I call the 'best of both worlds". Essentially they are stand-alone buildings, completely detached, but offering all the benefits of condo-living. You have your own home, usually with all the options including attached garages etc, but no yard-work, snow-shoveling or other maintenance required. These types of condos are rare, and therefore pricey. They usually start around the $250,000 mark and run into the half-million dollar range.

Well, there we have the basic types and styles. I hope you enjoyed, and will come back in a couple of days for Part 2, which will go into the legalities, restrictions and benefits of owning a condo, along with explanations on "Reserve Fund", "Condo Fee Inclusions" and "By-Laws" of condos.

If you have any questions along the way, please don't hesitate to comment here.

ciao

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